EURUSD Technical Outlook (26-30 January,2015) | January 24, 2015

EURUSD has broken its support at 1.1460 as Draghi announce QE and for that we saw great fall last week. It is continuing its down trend. This pair is now full of down pressure. We can see more fall on this pair. So we have to stay on downside. For long term, this pair can down more. So we can take entry from retracement. Our recommendation for this pair is to take sell entry from every retracement. Sell zone for this pair lies on between 1.1550-1.1650 area.


In weekly chart, we can 550+ pips weekly candle. So it is giving idea of bearish power on this pair. We can see free space for more fall on higher time fame on this pair. Long term target 1.0700 area. Daily chart is also showing down momentum. So it is better to stay on downside.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 1.1902

Resistance One (R1): 1.1551

Pivot Point: 1.1331

Support One (S1): 1.0980

Support Two (S2): 1.0760